- Dave Kranzler"Shanghai Gold will change the current gold market with its 'consumed in the East but priced in the West' arrangement. When China has the right to speak in the international gold market, the true price of gold will be revealed." - Xu Luode, Chairman, Shanghai Gold Exchange, 15 May 2014The quote above is for the benefit of anyone who refuses to acknowledge or accpet that the price...Read More
Gold surged sharply over this past week or so, nearing a major bull-market breakout! Nearly everyone was surprised by this violent awakening, which erupted suddenly as gold languished around year-to-date lows. If this dramatic rally has staying power, gold has good odds of achieving decisive new bull-market highs. That would change everything psychologically, ushering gold and its miners...Read More
By: Ira EpsteinFriday in Gold is notorious for giving back gains. Gold in bullish mode:Read More
- Jordan Roy-Byrne CMT, MFTAIn recent days the market has moved from expecting a rate cut by January 2020 to now expecting as much as three rate cuts by then. As a result both Gold and gold stocks launched higher, forming a "three white soldiers" bullish reversal pattern. Last week and in previous writings, we noted the importance of the actual rate cut for Gold and gold stocks. Their perform...Read More
By Avi GilburtIn my last article, I outlined how the same news event can "cause" the market to rally 9% at one time, and drop 5% another time. And, then I noted how I am quite certain there will be some of you that will try to explain away this clear lack of consistency with some form of convoluted "logic."And, true to form, some of you did. One such commenter noted:For about eight months, the m...Read More
Trump needn't have wheedled the Fed about juicing the money supply, since the banksters, ever eager to ride to the rescue -- of themselves -- would have done it anyway. The alchemists at the central bank have once again begun to "manage" our "expectations" with all the subtlety of a carnival barker about to spin a Big Six wheel. Their loyal spinmeisters at The Wall Street Journal gave this lat...Read More
- Hubert MoolmanPreviously, I have shown how we could be close to major financial/monetary crisis. The following chart that shows the ratio of gold to the monetary base was used:The chart shows the ratio of the gold price to the St. Louis Adjusted Monetary Base back to 1918. That is the gold price in US dollars divided by the St. Louis Adjusted Monetary Base in billions of US dollars. (from...Read More
An overview of the noble alloys markets and the reasons for any price moves.Read More
Gold has moved higher for the year, after stalling just below the $1,300-an-ounce mark for weeks. All the factors for the metal to rally to record levels might finally be falling into place. "Gold does well in a period of dollar weakness, inflation and economic uncertainty," says Peter Schiff, chief global strategist for Euro Pacific Capital, a division of Alliance Global Partners. "We are about t...Read More
Domestic rebar prices in Brazil fell during May as leading steelmakers battle with new participants for market share amid low domestic demand, retreating from announced price increases.Fastmarkets' domestic rebar price assessment was 2,450-2,600 Reais per tonne delivered on June 7, down from 2,600-2,720 Reais per tonne a month prior. The bottom of the price range is at its lowest for this year.Lon...Read More
Fastmarkets MB is delaying the launch of a weekly price assessment of South America import aluminium-zinc alloy coated steel coil reported on a US-dollar-per-tonne cfr South America basis.Market participants have been reporting significant liquidity in this market, with steady volumes being traded weekly.Based on the most widely traded product specification, the weekly price assessm...Read More
Bears suggest that falling oil, rising gold is bad news for stocks.A closer look reveals that the danger signal isn't as bad as it seems.Leading indicators of recession aren't confirming that danger looms.The pronounced divergence between gold and oil prices has triggered alarm bills for some bearish investment advisors and traders. Recently there have been warnings from some analysts that...Read More
Investors' growing fears have created a momentum wave for gold.Hedge funds are showing increasing interest in the yellow metal.Gold stocks are still the biggest beneficiaries of gold safety demand.In the market, there are basically two types of momentum which most investors are cognizant of. The first is when asset prices are propelled higher on a sustained basis based on widespread bullish se...Read More
Momentum is building for M&A across the gold industry driven by the market, balance sheets and shareholders, a report titled An Activist Gold Rush? by Kingsdale Advisors released Thursday finds.Mining behemoths Barrick (NYSE: GOLD, TSX: ABX) and Newmont (NYSE: NEM, TSX: NGT) have grabbed headlines with acquisitions of Randgold and Goldcorp respectively. Barrick and Newmont, in a JV that c...Read More
Fastmarkets examines the disconnect between manganese ore and alloy prices, which has led to squeezed margins for alloy producers.Leading alloy producers are considering the future of their assets amid historically high ore prices and subdued alloy prices.South32 announced in May it is reviewing its alloy assets and may divest them, while Ferroglobe said in early June it is considering cutting out...Read More
Gold nearly breached $1350 at the release of the jobs report, and the dollar plummeted. Here's an update...Editor's Note: With gold & silver on the move, it is important to understand (read about it here) why silver is set to move even faster.You can also hear it explained in plain English as we covered this out-of-the-gate in this week's show (and I've conveniently started the video at the exact...Read More
Lead's three-month price on the London Metal Exchange was lower at the close of trading on Friday June 7, failing to sustain gains made earlier in the week but staying above its nearby $1,800 per tonne support level, while disappointing US job growth figures hung over the commodity markets.The three-month lead price reaching an intraday low of $1,820 per tonne, down by more than 3% since Thursday'...Read More
Seaborne iron ore prices were flat on Friday June 7 amid a muted market due to a public holiday in China.MB 62% Fe Iron Ore Index: $100.60 per tonne cfr Qingdao, unchanged. MB 62% Fe Pilbara Blend Fines Index: $99.40 per tonne cfr Qingdao, unchanged. MB 62% Fe Iron Ore Index-Low Alumina: $104.04 per tonne cfr Qingdao,...Read More
Sentiment in the ex-China segment of the seaborne coking coal market has deteriorated further following a trade involving a cargo of premium materials that was concluded below prevailing levels.A July-laycan cargo of branded materials changed hands on trading platform Global Coal at $197 per tonne fob Australia late on Thursday, various sources told Fastmarkets on Friday June 7. The transaction wa...Read More
US stock markets just enjoyed their best week of the year on speculation that the Federal Reserve would once again ride to the rescue of equities and inflate asset prices by cutting rates.The S&P 500 index is sporting double digit percentage gains so far this year. Meanwhile, the S&P GSCI All Commodities index is down 14% over the past year.Apart from all things gold, Incrementum's 13th annual In...Read More